Why Haven’t the Devils Extended Jacob Markstrom?

The simple answer: they don’t have to - at least not yet.

Jacob Markstrom, the 35-year-old veteran goaltender, became eligible for a contract extension on July 1, 2025. The Devils acquired him from the Calgary Flames on June 14, 2024, in exchange for defenseman Kevin Bahl and a 2025 first-round draft pick.

New Jersey took on Markstrom’s existing contract, which had two years remaining at the time, part of a $36 million deal that pays him $6 million annually.

When the trade was made, Markstrom ranked fourth in NHL games played (256) since 2019–20, was tied for fourth in shutouts (17), ranked sixth in total saves (6,594 on 7,256 shots), and sixth in wins (138). 

As of July 21, 2025, he has just one season left on that deal. And while the Devils could extend him now, there’s no urgency to do so.

Why? Because they don’t need to.

The team has internal options developing in the system. Nico Daws and Mikhail Yegorov both project as potential long-term starters. Yegorov is entering his second season at Boston University, while Daws, who’s appeared three times for the Devils, is expected to spend most of the year with the AHL's Utica Comets but remains on standby as a reliable call-up.

The Devils also re-signed veteran Jake Allen on July 1 to serve as Markstrom’s backup this season.

If injuries strike again, something Devils are familiar with, Daws remains a viable emergency option.

That being said, General Manager Tom Fitzgerald will face a decision eventually. Both Markstrom and Daws are set to become free agents next summer, and the team will need to decide where to invest its future goaltending dollars.

Last season, Markstrom played in 49 games for New Jersey, posting a 2.50 goals-against average and a .900 save percentage. He missed time with an MCL sprain in January, returning in March. That injury history will certainly factor into any long-term planning Fitzgerald will do.

For now, though, the goaltending situation is stable. There's no immediate need to commit beyond this season.

Fitzgerald has other priorities, like finalizing a new deal for Luke Hughes, which could be announced any day now.

So, while Markstrom has been eligible for an extension for nearly three weeks, don’t expect action anytime soon. The Devils are in no rush, and frankly, they don’t need to be.

Photo Credit: © Ed Mulholland-Imagn Images